3 Scanning The Marketing Environment, Forecasting Demand, and Conducting Marketing Research

3
Scanning the Marketing

Environment, Forecasting
Demand, and Conducting
Marketing Research
Chapter Questions
 What are the components of a modern
marketing information system?
 What are useful internal records?
 What makes up a marketing intelligence
system?
 What are some influential macro
environment developments?
 How can companies accurately measure
and forecast demand?
Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from 3-2
the United States edition of Marketing Management, 14e.
Chapter Questions
 What constitutes good marketing research?

 What are the best metrics for measuring
marketing productivity?
 How can marketers assess their return on
investment of marketing expenditures?
What Is a
Marketing Information System?
A marketing information system
consists of people, equipment, and
procedures to gather, sort, analyze,
evaluate, and distribute needed, timely,
and accurate information to
marketing decision makers.
Table 3.2 Information Needs Probes
 What decisions do you regularly make?
 What information do you need to make these
decisions?
 What information do you regularly get?
 What studies do you periodically request?
 What information would you want that you are
not getting now?
 What are the four most helpful improvements
that could be made in the present marketing
information system?
Internal Records and
Marketing Intelligence
 Order-to-payment cycle
 Sales information system
 Databases, warehousing, data mining
 Marketing intelligence system
What Is a
Marketing Intelligence System?
A marketing intelligence system is

a set of procedures and sources that
managers use to obtain everyday
information about developments in
the marketing environment.
Steps to Quality Marketing Intelligence
 Train sales force to scan for new developments

 Motivate channel members to share intelligence
 Hire external experts to collect intelligence
 Network externally
 Utilize a customer advisory panel
 Utilize government data sources
 Purchase information
Important Sources of Secondary Data
in South Asia
 Statistical Outline of India
 Centre for Monitoring Indian Economy
(CMIE)
 The Marketing Whitebook
 Readership Surveys
 National Council of Applied Economic
Research (NCAER)
 Indian Trade Statistics
Important Sources of Secondary Data
in South Asia
 Web sites such as magindia.com and
agencyfaqs.com
 Euromonitor International
 Statistics Division of the Government of
Pakistan (http://www.statpak.gov.pk)
 The Bangladesh Bureau of Statistics
(http://www.bbs.gov.bd)
 The Department of Census and Statistics, Sri
Lanka (http://www.statistics.gov.lk)
Sources of Competitive Information
 Independent customer goods and service

review forums
 Distributor or sales agent feedback sites
 Combination sites offering customer reviews
and expert opinions
 Customer complaint sites
 Public blogs
Needs and Trends
Fad
Trend
Megatrend
Major Forces in the Environment
Demographic
Political-legal Economic
Technological Socio-cultural
Natural
Population and Demographics
 Population growth
 Population age mix
 Ethnic and other markets
 Educational groups
 Household patterns
Economic Environment
Consumer Psychology
Income Distribution
Income, Savings, Debt, Credit
Income Distribution
 Subsistence economies
 Raw-material-exporting economies
 Industrializing economies
 Industrial economies
Income Distribution in India
Sociocultural Environment
 Views of themselves
 Views of others
 Views of organizations
 Views of society
 Views of nature
 Views of the universe
Other Cultural Factors in Marketing
Core beliefs: hard to change

Secondary beliefs: easier to change
Existence of subcultures
Natural Environment
Keys to Avoiding
Green Marketing Myopia
 Consumer Value Positioning
 Calibration of Consumer Knowledge
 Credibility of Product Claims
Consumer Environmental
Segments
 Genuine Greens
 Not Me Greens
 Go-with-the-Flow Greens
 Dream Greens
 Business First Greens
 Mean Greens
Technological Environment
 Accelerating Pace of change

 Opportunities for innovation
 Varying R&D budgets
 Increased regulation of change
The Political-Legal Environment
Business Legislation
Growth of Special Interest

Groups
Government Agencies
Forecasting and
Demand Measurement
 How can we measure market demand?
 Potential market
 Available market
 Target market
 Penetrated market
A Vocabulary for
Demand Measurement
Market Demand
Market Forecast
Market Potential
Company Demand
Company Sales Forecast
Company Sales Potential
Market Demand Functions
Estimating Current Demand:
Total Market Potential
 Calculations
 Multiply potential number of buyers by
average quantity each purchases times
price
 Chain-ratio method
Area Market Potential
Market-Buildup
Area Market Potential
Multiple-Factor Index
Estimating Future Demand
 Survey of Buyers’ Intentions

 Composite of Sales Force Opinions
 Expert Opinion
 Past-Sales Analysis
 Market-Test Method
What Is Marketing Research?
Marketing research is the systematic design,

collection, analysis, and reporting of data
and findings relevant to a specific marketing
situation facing the company.
Market Research process
Step 1: Define the Problem
 Define the problem

 Specify decision alternatives
 State research objectives
Step 2: Develop the Research Plan
 Data sources
 Research approach
 Research instruments
 Sampling plan
 Contact methods
Research Approaches
 Observational and ethnographic

 Focus group
 Survey
 Behavioral data
 Experimental research
Research Instruments
 Questionnaires
 Qualitative Measures
 Technological Devices
Sampling Plan
 Sampling unit: Who is to be surveyed?

 Sample size: How many people should be
surveyed?
 Sampling procedure: How should the
respondents be chosen?
Contact Methods
 Mail contacts
 Telephone contacts
 Personal contacts
 Online contacts
What Is a
Marketing Decision Support
System (MDSS)?
 A marketing decision support system is a

coordinated collection of data, systems,
tools, and techniques with supporting
hardware and software by which an
organization gathers and interprets relevant
information from business and environment
and turns it into a basis for marketing action.
Characteristics of good Marketing
Research
What Are Marketing Metrics?
Marketing metrics are the set of measures

that helps marketers quantify, compare, and
interpret marketing performance.
Marketing-Mix Modeling
Marketing-mix models analyze data from

a variety of sources, such as retailer
scanner data, company shipment data,
pricing, media, and promotion spending
data, to understand more precisely the
effects of specific marketing activities.
For Review
 What are the components of a modern

marketing information system?
 What are useful internal records?
 What makes up a marketing intelligence
system?
 What are some influential macroenvironment
developments?
 How can companies accurately measure and
forecast demand?
For Review
 What constitutes good marketing research?

 What are the best metrics for measuring
marketing productivity?
 How can marketers assess their return on
investment of marketing expenditures?

3 Scanning The Marketing Environment, Forecasting Demand, and Conducting Marketing Research

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3

Scanning the Marketing

 What constitutes good marketing research?

A marketing intelligence system is

 Train sales force to scan for new developments

 Independent customer goods and service

Income, Savings, Debt, Credit

Core beliefs: hard to change

 Accelerating Pace of change

Growth of Special Interest

 Survey of Buyers’ Intentions

Marketing research is the systematic design,

 Define the problem

 Observational and ethnographic

 Sampling unit: Who is to be surveyed?

 A marketing decision support system is a

Marketing metrics are the set of measures

Marketing-mix models analyze data from

 What are the components of a modern

 What constitutes good marketing research?

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